FREQUENTLY ASKED QUESTIONS
WHEN DO I GET MY FIRST INCOMES FROM THE COMMITMENT TO INVESTED PROGRAM?
Investor will pay the rental incomes every 6 months.
Customers will get the committed rental incomes after paying off the villa.
Customer will receive a rental incomes commitment within 6 months from the date of handing over the villa, and start joining the Rental Program and paying off the villa (after they pay 35% price of villa).
DO I NEED TO PAY ANY EXTRA FEE DURING THE RENT-OUT TIME?
No, you don’t. During that time, all fees will be included in operating costs. Thus, Customers will definitely get 8%/year as committed without any extra cost.
CAN I SUPERVISE THE FINANCIAL ACCOUNTING ACTIVITIES?
Yes, you can. Customers have the right to supervise on their own or engage a third party to audit the annual financial report which is issued by our administrative service supplier.
WHAT OTHER BENEFITS DO WE GET FROM THE RENT-OUT PROGRAM?
Customer or Customer’s guest can get free stay of 15-30 nights/year (services included) throughout the year and are subjected on condition that:
- Booking reservation at least 30 days in advance in low season and at least 60 days in advance in peak season (extra fees will be charged).
- Unused free stay(s) will expire in the end of year and can not be used for following years.
- Cancellation must be at least 15 days before the stay so that the booked amount of nights will be credited.
- If cancellation is made less than 15 days before the stay or without notice, the booked amount of nights will not be credited.
- Customer can exchange the free night stay(s) in any resort or hotel belonging to Vinpearl.
WHICH CHANGES APPLIED TO MY PROPERTY AFTER THE RENT-OUT TIME?
In case of continuing cooperate with Vinperal; Customers will get 85% of net rental incomes from the 11th year.
Customers need to pay the fees of general maintenance and provision for restoration cost (to guarantee that the villa always meets the 5-star standards). These mentioned above costs are considered as operating costs of the villa which are deducted from the rental income before giving the net rental income to Customers.
If Customers do not continue to cooperate with Vinpearl, the villa will be given back to Customers according to the terms of agreement.
HOW IS MY VILLA WHEN IT IS HANDED OVER TO ME?
The villa will be handed over in ready-to-operate condition with complete furnishings and equipments fulfilling 5-star standard of Vinpearl Resort & Villas.
WILL THE QUALITY OF MY VILLA BE ASSURED AND MAINTAINED DURING THE RENT-OUT?
During the rent-out program, the villa is constantly managed and maintained to meet the 5-star standards.
HOW LONG IS THE VILLA OWNERSHIP?
For Vietnamese: unlimited
For Foreigners: limited to 50 years according to the new Housing Law valid since July 1, 2015
HOW LONG DOES IT TAKE ME TO GET THE LAND USE CERTIFICATE?
Within 45 working days after the Investor receiving all documents from the Customers to apply for the certificates. The investor will complete the application procedures prescribed by law.
CAN I TRANSFER THE OWNERSHIP OF MY VILLA DURING THE RENT-OUT PERIOD?
According to Circular 16/2010 / TT-BXD dated Sept. 1, 2010 (“Circular 16”), the Purchaser is entitled to assign the purcharse contract before the villa is handed over by Investor.
Since July 1, 2015, the purchaser can still sell/transfer the purchase contract after the handover until getting the ownership and land use certificate.
After the ownership and land use certificate is issued: Procedures and terms of transfer follow the terms in purchase contract and legal regulations at that time.
CAN I PURCHASE A VILLA WITH ANOTHER PERSON?
Yes, all co-purchasers will sign the purchase contract and terms of agreement with the Investor. Or, co-purchasers will authorize letter (legally attested) for one or several co-owners to sign with the investor on behalf of all co-purchasers.
CAN I TRANSFER MY FRACTIONAL OWNERSHIP?
Yes, both transfered parties are responsible for the costs as regulated by law following normal precedures.